When you’re searching for a property management company in the Orlando area, there are several questions that will help you determine whether the company is a good fit for your needs.
How long have you been in business?
You want to make sure you are dealing with someone who has experience in the property management field.
Are you a NARPM member?
The National Association of Residential Property Managers is an organization dedicated to providing education and networking opportunities to property managers to enhance their careers. It also has a lot of resources that property managers can use to better serve their clients.
How many staff members do you have?
It’s important to understand the size of your property management company and what the roles of each team member will be. You don’t want to deal with a property manager who handles everything from maintenance to financial matters to compliance, leasing and advertising.
How do you determine rental price?
A knowledgeable property manager has the resources to find out how the market is performing in your area. You don’t want to price it too high or it will be on the market for too long. Vacancy can be an expensive problemfor landlords.
What services are included in your fees and what are the prices?
You don’t want any surprises, so make sure you get a look at the management contract and you know what you are paying for.
How do you screen tenants?
Anyone can pull a credit report, a criminal record and an eviction report. Your property manager should go above and beyond by doing employment references, landlord references and even checking social media and the FBI most wanted records.
How do you market properties?
Marketing does not mean sticking a sign in the yard and hoping for best. Your property manager has to handle advertising more professionally. The listings should be syndicated online and available on many different websites so more potential tenants will see it.
What is your maintenance policy?
Make sure you are informed of any emergency maintenance procedures. You also want to know whether you are contacted for approval on maintenance that goes above and beyond stated limits. Allowing property managers to make all decisions on maintenance is like handing the manager a blank check.
How do you communicate?
You want to be informed. Ask about how often they will communicate with you and make sure the communication policy is comfortable for you.
What are your compliance and collection processes?
You need to know what happens if a tenant doesn’t pay rent and how long it takes the property manager to evict. Find out how diligently they inspect the property and what they do to keep it maintained.
Not all property managers are equal. You must feel comfortable with the company you are dealing with and the people you hire. If you have any questions, please feel free to contact us at RentCare Property Management.